Allied Energy Corp. (OTCMKTS:AGYP) Stock Opens Higher After 7+% Hike Friday

Allied Energy Corp. (OTCMKTS:AGYP) opens slightly higher this morning (Monday, July 26, 2001) after jumping  7+% Friday following filing with the OTC its impactful  first ‘Reserve Report’ which details proven, probable and possible oil reserves on all of its current leases, starting with an engineering report on its Green Lease site. All reports by site will be made available to the OTC markets via supplemental disclosure. AGYP is documenting its oil valuation — assets under management (AUM) for itself and its shareholders/investment community. 

AGYP stock closed Friday night up 7.07% at $0.56 in moderate trading volume of 383,368 — off its daily average of 459,082. WTI and Brent Crude are holding well in the $70s this morning. WTI opened this morning at $71.59 while Brent Crude reached $73.90. 

Critical to this spike is the company’s filing Friday of the first Oil Reserves Report prepared by Mark McBryde, a petroleum engineer who has prior experience with prominent oil companies. By filing Friday’s Executive Summary Report with the OTC on the Green Lease oil well drilling site, McBryde documents AGYP’s net reserves of 229,400 barrels of oil “probable” with pre-tax future net revenues of a present worth un-discounted of $5,781,300 and a value at @10% of $1,566,600. He also reported “possible” 448,000 barrels of oil with a present value of $12,755,300 un-discounted and $3,852,200 @10%. Oil, for purposes of this study, was priced at $46.26 — the 12 month trailing average price plus costs of extraction as of July 1, 2021. The rolled in cost of extraction makes up for any discrepancies in the pricing.

The report filed Friday document’s AGYPs proven, probable and possible oil reserves at price points which reflect the lower cost for per barrel over the past 12 months. WTI and Brent Crude prices this morning above $70 per barrel are greater than 50% higher than the $46.26 used in the computations. The report defines AGYPs UAM value. Global oil pricing determines its $ valuation.

McBryde wrote in the report on July 1, “Proved oil and gas reserves are those quantities of oil and gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward. The proved results were estimated using deterministic methods.” He added: “Reserves and schedules of production included in this report are only estimates. The amount of available data, reservoir and geological complexity, reservoir drive mechanism, and mechanical aspects can have a material effect on the accuracy of these reserve estimates.” 

George Montieth, CEO of AGYP, said, “Mark is a respected oil man with a long history of success within the industry…and has worked for senior oil companies. The reserve report that Mark is preparing will provide the company with a financial valuation that can be used within the oil and gas industry.”

A PDF presentation prepared for AGYP by an oil & gas expert consulting firm  said the Green Lease site said the site had originally been drilled back in the 1940s, but it has changed hands numerous times since and been under-utilized. AGYPs newest effort “will be the first to apply the most current drilling and production practices to the lease in 50 years.”Links to more news are at and